Ways,Use,Your,Merchant,Account finance, share, loan Ways to Use Your Merchant Account

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Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Having a merchant account can provide an expanded customer base for small business owners. A merchant account allows business owners to accept credit cards. For small business owners who operate websites for the businesses, a merchant account is almost a necessity to ensure customer activity. Small business owners can set up a merchant account with their bank in only a few steps. Once the account is set up, the small business owner has a few more steps to complete in order to be able to use the account and ensure that all customer transactions are safe. Supplies Needed: Merchant account Instructions: Step 1: Select the credit cards that you will accept with your merchant account. Bear in mind that the credit card company takes a percentage of each transaction, so read the fine print carefully before agreeing to accept a type of credit card. Some merchants choose to accept only the types of credit cards that patrons use most often (i.e., Visa and MasterCard) to avoid excess fees from cards used less frequently. Step 2: Purchase access to payment processing software that links the completed transactions to your bank account, via your merchant account. Companies such as VeriSign, Monetra, and VeriFone offer payment processing services. Step 3: Authorize the credit card purchases with each transaction. Authorizing payments protects you, the merchant, from accepting credit card purchases from bad credit card accounts. Your merchant account provider should be able to include an authorization service to your account. If you prefer to look elsewhere, Authorize.net provides a subscription-based credit card authorization service. Step 4: Batch the daily transactions with your payment processing software. Batching simply collects the transactions from each type of credit card and sends them to the bank in a group, instead of one by one. Be sure to send the information to the bank at the close of business day to ensure that payment turnaround is as fast as possible. Step 5: Receive payments from the credit card company. The payment you receive is the amount of the original transaction, minus any transactional fees that are applied. Expect the turnaround from accepting the credit card during the transaction to receiving payment for the transaction to be about three days. Tips and Warnings: If your business will be entirely online, the software and equipment will be built into any payment processing service that you use. If you operate out of a brick-and-mortar location as well, however, you will need the equipment and software to accept credit card payments. Check suppliers such as PaynetSystems.com, MerchantExpress.com or MerchantWarehouse.com to search for the items you need. The process that occurs in between the authorizing/batching and the merchant’s receiving of the payments affects only the bank and the credit card company. After receiving the transaction information, the bank sends it to the credit card company, which reviews and clears it – applying the debit to the purchaser’s account – and settling the payment with the bank. Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} About the Author Copywriter and marketing consultant, Kristie Lorette, is passionate about helping entrepreneurs and businesses create copy and marketing pieces that sizzle, motivate, and sell. She is also the author of Action Marketing: A Step-by-step Guide to Launch Your Business Marketing Plan. For more information, visit http://wp.me/ptLrh-1.